Oarsman Capital Inc. Acquires 825 Shares of W. P. Carey Inc. (NYSE:WPC)

Oarsman Capital Inc. raised its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 36.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,075 shares of the real estate investment trust’s stock after purchasing an additional 825 shares during the period. Oarsman Capital Inc.’s holdings in W. P. Carey were worth $168,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. FMR LLC boosted its holdings in W. P. Carey by 103.3% in the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock valued at $50,219,000 after acquiring an additional 409,593 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of W. P. Carey by 33.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 20,623 shares of the real estate investment trust’s stock valued at $1,285,000 after purchasing an additional 5,224 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of W. P. Carey by 444.4% during the third quarter. Benjamin Edwards Inc. now owns 4,976 shares of the real estate investment trust’s stock valued at $310,000 after buying an additional 4,062 shares during the period. Hilltop Holdings Inc. bought a new position in W. P. Carey in the third quarter worth about $291,000. Finally, Investment Management Corp of Ontario lifted its holdings in W. P. Carey by 46.7% in the third quarter. Investment Management Corp of Ontario now owns 7,229 shares of the real estate investment trust’s stock worth $450,000 after buying an additional 2,300 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Evercore ISI upped their target price on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Scotiabank increased their price objective on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, March 12th. Royal Bank of Canada boosted their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Finally, Wells Fargo & Company boosted their price objective on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $63.75.

W. P. Carey Stock Performance

Shares of W. P. Carey stock opened at $59.08 on Friday. The stock has a market cap of $12.94 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 1.06 and a beta of 0.81. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10. The firm’s 50-day moving average is $60.66 and its 200 day moving average is $58.37.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.89 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a dividend yield of 6.03%. W. P. Carey’s dividend payout ratio is presently 170.33%.

About W. P. Carey

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.